This home my clients lost was very nice, very nice, however, it was small and had no upside. Meaning all the square footage was used, and it was not going to be the family house they were going to need in 4-7 years. Now, we saw a lot of dogs, and I mean dogs, before we walked into this house. But there was no reason to overpay for a house just because it was nice, and updated. The home didn't have any upside, we could not see where we were going to put in sweat equity. The square footage was all used, it had a two car garage, and the yard was not very big. Plus there was no room in the basement.
However, this home sold for more then the asking price. What?
Back to my conversation with my fellow agent. We were talking about listings that were opportunities for us, and he said "watch out, it's becoming a 'Beauty Contest' out there" and I almost fell out of my chair. The house my clients lost out on was nice, and the one they bought was nice too, but has upside for improvements. No fancy stainless steel appliances, just a solid foundation, well kept home, and a little more off the beaten path.
When my clients start their family some day, their house will be able to grow with their family. Not so much with the overpriced house they lost out on. You see as a Realtor it is my responsibility to make sure I get the best possible deal for my clients, and listen to their needs. By listing to their needs, I can fulfill them to the best of my ability.
This turned out to be a win/win for everyone. The folks that bought the overpriced house, in my opinion, are happy, and my clients are happy with their purchase. However, this taught me that it is a "Beauty Contest" when selling and you have to be careful that picking the winner may not be the one that is the flashiest. But the winner may be the one with personality.
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